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Arizona Poised to Grow in Sports Betting in Coming Months

Davis Isabela

Updated on January 18, 2024 at 3:30 PM EST. Read time: 1 minute and 57 seconds. Find more information on Twitter and Google News.

Zac Gallen of the Arizona Diamondbacks reacts after striking out Freddie Freeman of the Los Angeles Dodgers as we look at the latest from Arizona sports betting.
Zac Gallen of the Arizona Diamondbacks reacts after striking out Freddie Freeman of the Los Angeles Dodgers. Photo by Ronald Martinez/Getty Images/AFP.

There will be additional competition in the thriving Arizona legal sports betting market, as the Arizona Department of Gaming revealed on Wednesday that they will be accepting applications for at least two more sports betting licenses in the state.

In 2021, then-Gov. Doug Ducey signed a legal sports betting law in Arizona, which allowed for up to 20 licenses to be issued. As of now, only 16 of these licenses are in use.

The newest sportsbook providers in Arizona will face tough competition from established giants like FanDuel, DraftKings, Caesars Underscoreg, BetMGM, and ESPN BET. It will be a challenging task for any new operator to break into the market and compete for a significant share.

The Arizona Department of Gaming has announced that the deadline for prospective new sports betting providers to submit their applications is March 4, 2024 at 5 p.m.

More details

The expansion of the Arizona sports betting industry was inevitable, as the state law allows for up to four additional sports betting licenses to be issued.

The ADG report announced that it will be receiving applications for one event wagering license to be allocated to Arizona Tribes, as well as a minimum of one event wagering license to be designated for Arizona Sports Franchises.

This indicates that Arizona may soon see the arrival of two or more sports betting operators, provided they meet the state’s strict regulatory standards. Sports bettors should prepare to capitalize on the best Arizona sportsbook promotions before their arrival.

Replacing some departed sportsbooks?

Arizona has seen several sports betting sites leave its jurisdiction, despite being one of the top-10 legal sports betting states in America.

FuboG, which closed in October 2022, was the only one of three sportsbooks to be replaced. bet365 now occupies Fubo’s former spot in the state.

WynnBET and TwinSpires have both exited the Grand Canyon State and closed their online sports wagering operations nationwide. There have been no replacements for either platform.

What the new providers have to look forward to

Since its launch in September 2021, the Arizona legal sports betting market has shown remarkable consistency. In October, the state’s sportsbooks saw bettors wager a total of $648 million. With reports from other states showing promising results, the revenue for November and December in Arizona is expected to be even higher.

The Arizona sports betting scene showed its potential in March 2022 with a record-breaking $691 million handle reported.

All the major players in the expansive and competitive U.S. legal sports betting industry have established a presence in the Arizona market. It is still uncertain which operators will vie for the available licenses in the state.

Many believe that companies such as Fanatics Underscoreg will be among the first to compete with Arizona’s top sports betting apps.

Written By:
Davis Isabela
Davis Isabela is the Editor-in-Chief of Underscoreg Review. He has been a writer, reporter and editor for more than 20 years, and his work has appeared in more than 200 publications across North America. His first book, “100 Greatest Canadian Sports Moments”, was a hardcover best-seller in Canada in 2008. He has written more than 50 sportsbook reviews and dozens of other sportsbook-related content articles. James has also been quoted as a sports betting expert in USA Today and Sports Illustrated.